Brokerages Set Kimbell Royalty Partners, LP (NYSE:KRP) Target Price at $17.80

Kimbell Royalty Partners, LP (NYSE:KRP) has been assigned an average rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.80.

KRP has been the subject of a number of research reports. Bank of America reduced their price target on shares of Kimbell Royalty Partners from $16.00 to $14.00 and set an “underperform” rating for the company in a report on Tuesday, March 4th. Truist Financial cut Kimbell Royalty Partners from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $16.00 in a report on Tuesday, March 4th. Raymond James reiterated a “market perform” rating on shares of Kimbell Royalty Partners in a research report on Monday, March 3rd. Mizuho began coverage on Kimbell Royalty Partners in a research report on Monday. They set a “neutral” rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada raised Kimbell Royalty Partners to a “moderate buy” rating in a research report on Friday, March 14th.

Kimbell Royalty Partners Trading Up 0.7 %

Kimbell Royalty Partners stock opened at $14.32 on Monday. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 4.25 and a beta of 0.65. Kimbell Royalty Partners has a 52 week low of $13.24 and a 52 week high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20. The company has a 50 day moving average price of $14.85 and a 200 day moving average price of $15.60.

Kimbell Royalty Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.17%. Kimbell Royalty Partners’s dividend payout ratio is -1,454.55%.

Insider Activity at Kimbell Royalty Partners

In related news, insider Blayne Rhynsburger sold 7,851 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $13.86, for a total value of $108,814.86. Following the completion of the transaction, the insider now directly owns 49,263 shares in the company, valued at approximately $682,785.18. The trade was a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Kimbell Royalty Partners

Several hedge funds have recently bought and sold shares of the stock. Accordant Advisory Group Inc increased its position in shares of Kimbell Royalty Partners by 10.3% during the fourth quarter. Accordant Advisory Group Inc now owns 211,422 shares of the energy company’s stock worth $3,431,000 after acquiring an additional 19,716 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Kimbell Royalty Partners by 38.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 267,015 shares of the energy company’s stock worth $4,334,000 after purchasing an additional 74,098 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Kimbell Royalty Partners by 65.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,054 shares of the energy company’s stock worth $693,000 after purchasing an additional 17,029 shares in the last quarter. Barclays PLC raised its stake in shares of Kimbell Royalty Partners by 1,175.1% in the 3rd quarter. Barclays PLC now owns 13,605 shares of the energy company’s stock valued at $219,000 after purchasing an additional 12,538 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Kimbell Royalty Partners by 11.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 101,134 shares of the energy company’s stock valued at $1,627,000 after purchasing an additional 10,176 shares in the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

Kimbell Royalty Partners Company Profile